Ground Breaking Report – Jan. 18 Release



TREB will release a ground breaking report on January 18 on the "Market Year in Review & Outlook" for the housing market. 


t will contain never before seen results from a TREB commissioned Ipsos survey on consumer housing opinions and intentions. The report will also outline what government and industry leaders feel is important to keep the Greater Golden Horseshoe competitive on the global stage.



  Receive Market Report Jan 18th 



The U.S Fed raised it's lending rate today by 25 basis points and is poised to make future rate creases due to the improved econonic conditions in the U.S. 


December 13, 2015Home


As a Reator I support the lastest action with the new down payment requirements coming into effect in the new year. I was concerned the new government would do some knee jerk reaction and institue  more drastic changes. 


Rob Carrick: Why homeowners should cheer new down payment rules article more


Sounds like future changes coming to the mortgage industry 


Below is a  Globe and Mail article  Friday Dec 11th  indicates in part of  there article  that more changes may be coming as OSFI are planning to update there rules here is a quote from their article.....On Friday, OSFI announced plans to update the rules that dictate how much capital the banks and private mortgage lenders must hold as insurance against bad mortgage loans. Although the proposal is up for discussion, and any changes aren’t likely to be implemented before 2017, there is a decent chance the banks will have to put in place bigger safety cushions to protect against housing-related losses.   Here is the full article from the Globe and Mail. 


Read reported  - Finance minister announces down payment rule changes

by Justin da Rosa | 11 Dec 2015

New down payment rules will go into effective February 15, 2016.

“The Government’s role in housing is to set and maintain a framework that is equitable, stable and sustainable. The actions taken today prudently address emerging vulnerabilities in certain housing markets, while not overburdening other regions,” Finance Minister Bill Morneau said in a release. “They also rebalance government support for the housing sector to promote long-term stability and balanced economic growth.”

The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000, the finance ministry wrote.

For example: A $750,000 home will now require $50,000 down -- 5% for the first $500,000 and 10% down for the remaining $250,000.

Properties up to $500,000 will continue to require a minumum of 5% down. Properties in excess of $1 million will still require 20% down.

The changes are meant to reduce taxpayer exposure while supporting long-term stability of the housing market, according to the ministry.

“This measure will increase homeowner equity, which plays a key role in maintaining a stable and secure housing market and economy over the long term,” Morneau said. “It also protects all homeowners, including many middle class Canadians whose greatest investment is in their homes.”

Here is a Globe and Mail  article re changes to mortgages 


Mortgage News article this morning 

by Steve Randall | 11 Dec 2015

The federal finance minister has scheduled an announcement for Friday morning at 9.30 which is widely anticipated to be about the housing market. Reuters reports that the announcement may set out the government’s plans for cooling the housing market, which could include the rumoured hike in minimum downpayment for CMHC-backed mortgages.

more news 


CTV article on proposed increased down payment requirements for home buyers 

The new regulations will increase the minimum down payment required to buy a home for more than $500,000, with portions beyond that amount requiring a 10 per cent down payment. The down payment on the first $500,000 will remain at five per cent.  see more ..................


Below is an article of  regarding a recent C.D. Howe study warning  that 1st-time homebuyers form a larger segment of home owners have mortgages 5 times their earnings leaving them more vunerable if they haven't saved a reserve fund to help them through either future higher interest rates or job loss. 

My experience working with many 1st- time home buyers is they often qualify for alot more that they are willing to spend for their 1st home. They want some disposable income available for other  lifestyle  choices but in today's hot market they are feeling the pressure to spend more to get into the market. Comments and your thoughts appreciated below


1st-time homebuyers at risk because of heavy mortgage debt, says C.D. Howe study

Young and lower-income households face trouble if mortgages rise or they lose a job

CBC News Posted: Dec 09, 2015 12:52 PM ET Last Updated: Dec 09, 2015 3:28 PM ETv


Scotia Mortgage Authority raises rates effective today 




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